2025 (3) TMI 2093

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.... on the facts and circumstances of the case and in law, the Ld. CIT(A) justified in deleting the addition made on account of cash deposit, by ignoring the fact that the assessee failed to produce and submit the nature and evidences of services/reimbursement charges against which this huge amount of cash has been received and deposited in bank account. (ii) the appellant craves leave to amend or alter any ground or add a new ground which may be necessary." 2. The assessee is a partnership firm engaged in the business of clearing and forwarding agent. The assessee filed the return of income for AY 2017-18 on 20.12.2017 declaring total income of Rs. 1,88,360/-. The case was selected for scrutiny and the statutory notices were duly served on....

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....essee preferred further appeal before the CIT(A) who deleted the addition by holding that - "xviii) The appellant submitted complete details, its Computation of Total Income, Balance Sheet, Profit and Loss Account for A.Y. 2017-18, detail of all bank accounts, copy of bank statements response for cash depositing during demonetization period. detail of source of cash deposited, copy of ledger extract of M/s Eashakrupa Shipping and Logistics (1) Pvt. Ltd. and copy of service tax return and explained the nature and source of the cash deposits. In view of the facts and circumstances of the case, the assessment order, submission made by the appellant and the various judgement of the Hon'ble High Courts, the addition on account of ca....

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....he AO is not correct in making addition under section 69A. The ld AR further drew our attention to the fact that the assessee in ITR 5 (page 55 to 56 of PB) has filed the details of cash deposit during demonetisation period amounting to Rs. 86,49,000 and the AO while making the addition has erroneously added the entire the cash deposit including the deposits made prior to demonetisation. The ld AR accordingly argued that the AO has made the addition in a mechanical manner without considering the details submitted by the assessee. 7. We heard the parties and perused the material on record. The AO has made the addition towards cash deposited during demonetisation period for the reason that the details submitted by the assessee are inadequa....